This paper summarizes the top ten insurance companies in premium income in 20 19, and briefly introduces the basic situation of these 10 companies, as well as the popular products and product characteristics at present, combined with the company's current operation in 2020.
Companies before premium income 10:
1. China life insurance
Abbreviation: China Life Insurance, formerly known as PICC Life Insurance, was spun off from PICC in 1996 and renamed as China Life Insurance in 1999. Its premium income has always ranked first in the industry, and currently ranks 5 1 among the world's top 500 enterprises.
In 2020, companies began to reduce the size of agents, but China Life went against the trend and expanded the number of agents, exceeding 1.6 million employees. China life insurance products are relatively balanced, and China life insurance series has comprehensive protection for serious illness and serious illness. For example, e Kangyue Million Medical Insurance promises to renew its coverage from the third year, which is relatively balanced as a whole.
Current flagship products include:
2. China Ping An Life Insurance Company of China Insurance Company China Insurance Company
Ping An was founded in 1988, and 1993 began to operate life insurance business, breaking the monopoly of the industry in one fell swoop. Premium income has increased year after year, approaching China Life Insurance, and its net profit ranks first in the industry. At present, it ranks 29th among the top 500 enterprises in the world, and ranks first in the same industry in China.
Ping An can be the first in the industry, not by monopolizing resources. There are many unique places, including three first, the best deductible medical care in the health care industry. The definition of serious illness and minor illness is the first in the industry, and the overall claim threshold is the lowest; The real interest rate of Jubao Universal Account remained stable, ranking first in the industry.
At present, the main products are:
3. Pacific Life Insurance Company
Pacific Life was founded on 200 1. At present, the premium, net profit and agent scale rank third in the industry, with net profit exceeding 20 billion and agents around 800,000.
In the past, there were cancer insurance and Jin Nuo life critical illness insurance in the Pacific, and Mars' annual series of financial management was well-known. At present, the main product is Mrs. Kim's health series, which can add multiple insurances. In addition, Lexiang Million Medical Insurance agreed to renew the insurance and prepaid the hospitalization expenses. Critical illness insurance combines children's special diseases, adult disability and senile diseases, and pays double compensation, which is quite unique.
Current flagship product:
4. Huaxia Life Insurance
Huaxia Life Insurance was established in 2006. In 20 19, its premium income reached18 billion yuan, ranking fourth in the industry for two consecutive years. This young company has developed rapidly in recent years, and goes hand in hand in the agent channel, brokerage channel and bancassurance channel. However, the premium income of bancassurance channel accounts for a high proportion, and product pricing is more radical.
In 2020, China will face a solvency crisis. Due to low solvency, it was taken over in the second quarter. It is expected that Huaxia will be reborn after taking over. As far as the product itself is concerned, the cost performance is relatively high.
At present, the main products are:
5. Taiping Life Insurance
Taiping Life Insurance is a central enterprise and listed in Hong Kong. At present, its premium income ranks fifth in the industry. Taiping Life's customer service evaluation is very high and its reputation is good.
In the past, Taiping had cost-effective Fu Lu Kang Rui, plus worry-free medical care. With the removal of these products, Taiping's new products have improved in the definition of critical illness insurance. At present, the main products are:
6. New China Life Insurance
It is one of the four listed insurance companies of Xinhua Life Insurance. In 2020, the premium income will reach 654.38+03.8 billion, the net profit will reach more than 654.38+00 billion, and the number of individual agents will reach 590,000.
Xinhua products are mainly divided into two categories, namely, single payment of critical illness insurance, such as health and worry-free series; There are also multiple critical illness insurance payments, such as multiple critical illness insurance series, which are divided into adult version and children's version. A healthy and worry-free new IKEA is suitable for all ages. Compensation for serious damage has increased.
Life insurance products are similar to China Life Insurance in product form, with a complete range of serious illness and serious illness. 1 10,000 medical insurance nurses also promised to renew their insurance from the third year. At present, the main products are:
9. A full life
Fude Life Life was formerly known as Life Life. Fude Group took over the name change after its shareholding, and it also has a certain popularity in the industry.
In recent years, Fude Life's solvency is not very high, hovering near the verification line. As far as products are concerned, Fude Life products have begun to see some characteristics of Sino-foreign joint venture products, such as life insurance recovery, cancer single payment and so on. Critical illness insurance has a single payment and multiple payments, and it is renewed for five years with Kangyue Life Million Medical Insurance.
10. Tianan life insurance
Tianan Life Insurance was founded in 2000. At present, its outlets are distributed in more than a dozen provinces and cities, and its premium income is high, but its profit level is low, with a loss of 6.5 billion in 20 19. In the second quarter of 2020, due to the low solvency, it is now taken over, and it is expected that the solvency will be improved after the reform.
The common Tianan products are Aibo and Healthy Source series, which are comprehensive in mild, moderate and severe diseases, and both of them can be returned. Most importantly, even if there is an extra refund, the price is still relatively cheap, and the new health exclusive 2.0 renewal clause is ideal.
Related Q&A: The top ten auto insurance companies in China 10: China Ping An, China Life Insurance, Taiping Life Insurance, Taikang Life Insurance, Huaxia Insurance, AIA Insurance, Xinhua Life Insurance, Life Life Insurance, Sunshine Insurance and Anbang Insurance. 1. The top ten ranking of China auto insurance companies: 1, and Ping An of China: it is the most comprehensive insurance company; 2. China Life Insurance: It is one of the largest institutional investors in China's capital market and a Fortune 500 company; 3. Taiping Life Insurance: a national joint-stock commercial insurance company approved by the People's Bank of China; 4. Taikang Life Insurance: There are no bad debts since its establishment, and it was ranked among the "Top 500 Chinese Enterprises" in 10; 5. Huaxia Insurance: There are more than 470 branches in China and two "Huaxia Charity Funds" have been established; 6. AIA: It is a wholly-owned subsidiary of American International Group; 7. Xinhua Life Insurance: Life insurance is the main business; 8. Sino Life: One of the life insurance companies with the strongest capital strength in China; 9. Sunshine Insurance: It is a professional life insurance company; 10, Anbang Insurance: One of the most comprehensive insurance companies. Second, the basis for the ranking of insurance companies Generally speaking, looking at insurance companies depends on two aspects: income and solvency. Income represents how much money the company has earned, and whether it will continue will affect the renewal of insurance. Solvency represents whether the company can guarantee claims and affects whether consumers can be guaranteed. According to the official data and the information of famous websites, we can get the following results: (1) According to the income ranking, China Life Insurance, China Life Insurance Ping An Life Insurance Company and Pacific Life Insurance have higher incomes. The three are also well-known insurance companies in China, with good brand strength and reputation, which is indeed the first choice for more consumers. (2) Solvency ranking Behind every insurance company, there is strict supervision by regulatory agencies such as the China Banking Regulatory Commission. Solvency mainly depends on these three indicators: core solvency adequacy ratio, comprehensive solvency adequacy ratio and comprehensive risk rating. The calculation of comprehensive solvency adequacy ratio, core solvency adequacy ratio and the specific standards and procedures of comprehensive risk rating are all based on the solvency supervision rules of insurance companies, so insurance companies have a set of calculation standards for core solvency and comprehensive solvency, which need to be strictly observed and implemented.